Ethena Labs, the innovative blockchain project behind the scalable synthetic dollar USDe, has achieved a major milestone with its integration on the prominent cryptocurrency exchange Bybit. This partnership marks a significant step in driving real-world use cases for USDe and further solidifies its position in the competitive stablecoin market. Under the terms of the agreement, Bybit will integrate USDe as a collateral asset, enabling users to trade perpetual futures contracts for various cryptocurrencies using USDe as collateral. This strategic move not only expands the utility of USDe but also provides traders with greater capital efficiency and potential yield-earning opportunities. Excited…

The Indian stock market witnessed a significant downturn on Tuesday, May 7th, 2024, as investors remained cautious ahead of the crucial Lok Sabha election outcome. The benchmark indices, NIFTY 50 and BSE SENSEX, both experienced declines, reflecting the overall sentiment in the market. The NIFTY 50 index closed at 22,302.50, down 0.62%, 140.20 points from the previous close of 22,442.70. The index traded within a range of 22,232.05 to 22,499.05 during the day, showcasing the volatility in the market. Similarly, the BSE SENSEX fell by 0.52%, 383.69 points, closing at 73,511.85, compared to the previous close of 73,895.54. The…

Fetch.ai, a pioneering Cosmos-based cryptocurrency project focused on artificial intelligence development, has witnessed an unprecedented surge in the value of its native token, FET. The coin’s price has soared by an astounding 645%, climbing from a low of $0.4681 on December 11, 2023, to a remarkable high of $3.4850 on March 24, 2024. This remarkable rally can be attributed to a confluence of factors, including the v0.17 update released in early February and a substantial $100 million investment in the project’s infrastructure initiative, Fetch Compute. As of May 7, 2024, FET is trading at $2.41, a 14.14% gain in the…

The benchmark equity indices in India are trading bearish on Monday, May 6th, with the Nifty 50 and Sensex hovering around their previous closing levels of Friday. The Nifty 50 is marginally down by 0.072%% at 22,459.65, while the Sensex is dipped 0.024% to 73,895.54 as of market close close. This muted performance comes after a bearish trend witnessed in the previous week’s day of close. The Sensex dropped 732.96 points, 0.98%, to close at 73,878.15, while the Nifty 50 settled 172.35 points, 0.76%, lower at 22,475.85 on Friday. With the Nifty 50 forming a double top pattern on the…

The Indian stock market remains closed today and tomorrow on the weekend. However, the Indian equity markets witnessed a pullback on Friday, 3rd May, with the benchmark Nifty 50 and Sensex indices shedding nearly 1% each after Nifty 50 scaled fresh all-time highs in the opening trades. The Nifty 50 closed at 22,475.85, down 172.35 points, 0.76% after recording an intraday and 52-week high of 22,794.70. The Sensex settled at 73,878.15, lower by 732 points, a  0.98% drop, with its day range trading between 73,467.73  and 75,095.18 while trading between 8,893.00 and 75,124.28 over the last 52 weeks. Nifty…

The Indian stock market experienced a sharp pullback today, with the benchmark Nifty 50 index plunging 274 points to 22,373.35, down 1.21% after hitting an all-time high of 22,794 in the morning session. The BSE Sensex has also tumbled, shedding 986.07 points,1.32% to trade at 73,625.04 as of writing Nifty 50 Index Daily Chart: TradingView The Nifty Bank index, which tracks the performance of major Indian banks, also succumbed to the selling pressure, tumbling 0.94%, 465 points to 48,766.05. This decline comes as AxisMutualFund launches the NiftyBank Index Fund, an open-ended index fund designed to mirror the Nifty Bank…

The crypto space has been set ablaze by the meteoric rise of PEPE, the meme-inspired digital coin that has captured the attention of retail investors, deep-pocketed whales and the entire crypto community. Over the last 24 hours, PEPE has surged by a massive 13% in the last 24 hours, having surged over 8% on the 2nd of May.PEPE now records a market cap of $3.32 billion as the 30th largest crypto and a trading volume of $1.25 billion. PEPE Price Chart: CoinMarketCap What’s the driving force behind this remarkable rally? It appears to be the aggressive accumulation of PEPE…

Amidst the crypto market volatility and bearish trend lately, Avalanche (AVAX), the widely acclaimed layer-one blockchain, has been making moves to harden its position in the Web3 space. According to the latest market data, AVAX’s price has stabilized above the $30 mark after experiencing a heavy crash. The bearish crash has had AVAX drop significantly, but in the last 24 hours, it has found stability and has gained 5.64% as of writing, easing the overall AVAX market drop. The token currently holds a 7.07% drop over the last seven days and a 30% drop over the last 30 days. With…

The crypto market experienced significant volatility and bearish market dynamics and pressure this week, with Bitcoin’s price correction to $56,000 on Wednesday, May, triggering a major sell-off that impacted most top altcoins, including Solana (SOL). SOL recorded over 10% intraday loss amid the bearish pressure. However, the layer 1 cryptocurrency has since regained its ground, currently trading at $129.83 and reflecting a 3.22% gain in the last 24 hours.   SOL Price Chart: CoinMarketCap This upswing has helped wipe out SOL’s previously heavy bearish trend, with the token now remaining with a 12.29% deficit over the last 7 days and a…

Today, May 1st, banks in major banks and the stock market remain closed in observance of Maharashtra Day and May Day (Labour Day). The Indian equity markets sustained their remarkable momentum at close on April 30th, with the benchmark Nifty 50 scaling fresh record highs. The Nifty 50 closed at 22,604.85, lower by 0.17% from its previous record close of 22,643.40. The index hit an intraday peak of 22,783.35, marking it as its 52-week high level. Nifty 50 Share Price Chart: TradingView Meanwhile, the 30-share BSE Sensex dropped 188.50 points to settle at 74,482.78, away from its one-year high…